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FY13 GDP revised downward, its still overstated

Posted by fairval on February 1, 2014

This blog has written earlier how FY13 GDP growth was most likely overstated. In the post ‘Did real GDP grow only 2-3% in FY13?‘ we pointed out that the data in government budget was self contradictory, unless the GDP growth in FY13 was much less than 5%.

Now the figure has been revised to 4.5%. This is how it adds up:

Primary Sector: 1%,  Secondary: 1.2%, Tertiary: 7%
So this growth is entirely dependent on the services sector, which according to government data fluctuates only between 7-9% or so, irrespective of what happens to rest of Indian or global economy. That is hard to believe.






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